Nykaa is an e-commerce platform that provides fashion and beauty products. The firm expanded the Employee Stock Option Plan by allocating 3.08 lakh equity shares to its current Employee Stock Option Plan pool size.
The company provides wellness, beauty, and fashion products through its online platform and offline stores in India. These newly allocated employee stock option plan shares are worth Rs 5.92 crore. The startup allocated these stock options to employees under its Employee Stock Option Plan.
The company mentioned in a stock exchange filing that the allotted shares would rank equally without any preference for the company’s existing equity shares in all respects. The board approved the allotment of additional stock options based on the stock’s closing price of Rs 192.15 per share on October 14th to those under the Nykaa employee stock option plan.
The company allotted these fresh equity shares under the Nykaa ESOP 2022 plan. inc42 reported. This marks the third expansion of Nykaa’s employee stock option plan pool sizes for the past few months.
The development came just a week after the startup allotted 4.73 lakh equity shares to its employees in June. The D2C beauty brand also offered 7.65 lakh equity shares to its employees under various employee stock option plan schemes in September.
The Mumbai-based startup has raised around 215.4 million USD across multiple funding rounds since its inception, including 3.4 billion USD raised during its post-IPO secondary round from Aditya Birla Sunlife Mutual Fund and others. The company also received a $2.1 billion investment from Aberdeen Standard Investments during its post-IPO equity round.
The beauty and wellness brand reported a 152 percent increase in its consolidated net profit to Rs 13.6 crore in the first quarter of FY25. However, the revenue from operations also saw a 22.8 percent increase to Rs 1,741 crore in the same duration.
The company allotted new shares in its ESOP pool size just when various listed and unlisted startups were increasing their allotment of the company’s shares to employees. Nykaa expanded its ESOP following other public companies like Tracxn, PB Fintech, Zaggle, TBO Tek, and Paytm which increased their Employee Stock Option Plan pool size. Nykaa faces competition from other online fashion and beauty product offering platforms including Myntra, Ajio, and Reliance Tira.
Conclusion :
Nykaa expanded its employee stock option Plan by allocating 3.08 equity shares under its Nykaa Employee Stock Option Plan.
These newly allocated shares are worth around Rs 5.92 crore. The online beauty platform offers wellness, beauty, fitness, and fashion products to its customers. This is the third time this company has expanded its employee stock option plan in the past months. The board approved the allocation of new employee stock option plan options under Nykaa’s ESOP scheme.
The D2C beauty firm previously allotted 4.73 lakh equity shares under its ESOP plan. The company has raised around 215.4 million USD across multiple funding rounds since its inception and it competes with platforms like Myntra.
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